COMPANY SETUP

Overview:

Sharjah Media City (SHAMS) was established in January 2016 by His Highness Dr. Shaikh Sultan Bin Mohammad Al Qasimi to create a regional media hub. Launched in 2017, SHAMS aims to be a world-class center for media and creativity, fostering an environment for innovative entrepreneurship.

Advantages:

SHAMS offers a vibrant ecosystem with innovative services and specialized facilities for the creative and media industries. Benefits include legal independence in licensing, a holistic community-centered approach, up to 6 visas on a shared desk, no age restrictions for investor visas, 100% foreign ownership, and 0% corporate or personal tax.

Requirements:

A minimum share capital of AED 100,000 is optional. A manager must be appointed on the company’s residence visa, requiring entry to the UAE at least once every six months.

Facilities:

• SHAMS provides dedicated and shared desks and offices, designed to cater to client needs.
• Shared workspaces promote collaboration, ideal for startups.

Licensing Categories:

1. Service License: For production, transformation, and distribution of services.
2. Trading License: For selling goods within SHAMS or importing/exporting.
3. Industrial License: For production, transformation, and manufacturing of goods.

Company Types:

1. SHAMS LLC: With 1-50 shareholders, either individuals or corporate entities, capital contribution optional.
2. Branch of Foreign Company: Extension of the parent company, no capital requirement.
3. Branch of Locally Incorporated Company

Features:

• SHAMS LLC: No requirement to file audited annual accounts.
• Branch Office: No minimum capital, extension of the parent company, only a manager required.